Haas Company manufactures and sells one product. The following Information pertains to each of the company's first three years of operations: Var Lable costs per unit Manufacturing Direct materials $ 24 Direct labor $20 Variable manufacturing overhead $5 Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead $440,000 Fixed selling and administrative expenses $ 200,000 During its first year of operations, Haas produced 40,000 units and sold 40,000 units. During its second year of operations. It produced 55,000 units and sold 30,000 units. In its third year, Haas produced 20,000 units and sold 45,000 units. The selling price of the company's product is $66 per unit Required: 1. Compute the company's break-even point in unit sales. 2. Assume the company uses variable costing: a. Compute the unit product cost for Year 1. Year 2 and Year 3 b. Prepare an income statement for Year 1 Year 2, and Year 3. 3. Assume the company uses absorption costing a. Compute the unit product cost for Year 1 Year 2 and Year 3, b. Prepare an income statement for Year 1 Year 2 and Year 3. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reglas Reg JA Req JB Prepare an income statement for Year 1. Year 2. and Year 3. Assume the company uses variable costing, Haas Company Variable Costing Income Statement Year 1 Year 2 Year 3 les b. Prepare an Income statement for Year 1. Yeal Complete this question by entering your answers in the tabs below. Reg 3A Req 38 Req 1 Req ZA Reg 28 Prepare an income statement for Year 1, Year 2, and Year 3. Assume the company uses variable costing. Haas Company Variable Costing Income Statement Year 1 Year 2 Year 3 Sales 0 0 0 0 0 0 0 0 0 0 0 $ $ 0 s Net operating income foss) Req 3A > ( Req2A Finistrative penses 200, During year of operations, Haas produced 40,000 urt and cold 40,000 During its second year of option, produod 55,000 and cold 30.000 unmin in third year. Haas produced 20,000 units and sold 45,000. The coling pince of the company's product $66 por unft Required 1. Compute the company's break-even point in unit sales 2. Assume the company uses variable conting a Compute the unit product cost for Year 1 Year 2, and Year 3. b. Prepare an income statement for Year 1 Year 2 and Year 3 3. Assume the company usos absorption conting: a. Compute the unit product cost for Yoar. Year 2. and Year 3. b. Prepare an Income statement for Year Year 2. and Year 3 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 23 Red 3A Req3 Prepare an income statement for Year 1. Yeur 2 and Year 3. Assume the company uses absorption costing. (Round your intermediate calculations to 2 decimal places.) Has Company Absorption Costing Income Statement Year 2 Yea Year 1 0 0 $ 01 S 03 Het operating income loss)
